EU states freeze $130 million worth of Lebanese assets

A European Union agency says authorities in three European countries have frozen more than $130 million in assets linked to an investigation into money laundering in Lebanon

BEIRUT -- Authorities in three European countries have frozen more than $130 million in assets linked to an investigation into money laundering in Lebanon, a European Union agency said Monday.

The measures taken by officials in France, Germany and Luxembourg come as Lebanon grapples with a devastating economic crisis and coincide with domestic and European investigations of its longtime central bank governor, Riad Salameh. The crisis, which started in October 2019, is rooted in decades of corruption and mismanagement and has continued with no serious steps by the country's political class to work for a solution.

The European Union Agency for Criminal Justice Cooperation, or Eurojust, said the investigation targets five suspects accused of money laundering. It did not identify the five, adding that they are suspected of embezzling public funds in Lebanon amounting to more than $330 million and 5 million euros ($5.5 million) respectively, between 2002 and 2021.

It said the assets that were frozen on Friday amount to 120 million euros ($131.6 million).